Pozible set for $20m in crowdfunding pledges as the start-up seeks growth in Asia

Pozible co-founder Alan Crabbe says he believes that Pozible is the third biggest crowdfunding platform in the world, though he concedes it is hard to get accurate comparative figures.

Caitlin Fitzsimmons

Australian crowdfunding platform Pozible is on the verge of reaching $20 million in pledges and the company claims growth has not slowed despite the influx of foreign competitors.

“There was concern from the industry about some bigger competitors like Kickstarter and indiegogo moving into our market late last year and what that would mean given they pretty much control the marketplace and crowdfunding in general [in other markets],” says Pozible co-founder Alan Crabbe. “But we are growing as fast as ever.”

Pozible’s live counter shows $US18.73 million ($19.96 million) in pledges as of Thursday morning. Of those pledges, $17.05 million has been distributed to project creators so far.

Crabbe says he believes that Pozible is the third biggest crowdfunding platform in the world, behind Kickstarter and indiegogo but ahead of RocketHub, though he concedes it is hard to get accurate comparative figures. However, he says he is confident that Pozible is the biggest in the Asia Pacific region and this is where the platform is focusing its growth efforts.

Crabbe’s co-founder Rick Chen is currently in Shanghai, adding two new employees and trying to get the first projects off the ground. The company has a partnership with the biggest Maker Faire, a large event for creators, in China. Pozible also has an employee in Singapore and one in San Francisco.